I run 2 2s 5000mah 30C lipos and can get 8 minutes of runtime but usually run for 5 or 6 and bring it in. On 5000mah Duratrax batts I get about 6 minutes. In terms of speed I gps mine with 4s lipo, 40x52/3 prop at 35mph. There is more in there with that prop and with a x642 or 42x55 I would think 40 is easily attainable with lipo's.
Here is a vid of my Rio Ep brushless and my Supervee 27R. The supervee comes in at 49 sec mark.